Question

$15,000 is deposited into account that earns 9.9% interest compounded monthly what is the balance in the account after 20 years?

Answer 1

The answer to your question would be
$99093.49

Answer 2

107762.24

Explanation:

We know that:

P=15000

r=9.9%

n=12

t=20

15000.(1 plus 9.9/100/12 )12.20